Arab Today, arab today finland to confiscate illegal profits from its biggest financial fraud
Last Updated : GMT 14:25:50
Arab Today, arab today
Arab Today, arab today

Finland to confiscate illegal profits from its biggest financial fraud

Arab Today, arab today

Arab Today, arab today Finland to confiscate illegal profits from its biggest financial fraud

The Supreme Court of Finland
Helsinki - XINHUA

The Supreme Court of Finland adjudged on Friday that five investors involved in the WinCapita case, the country's biggest ever financial fraud, must hand in the ill-gotten-gains from the scheme to the country.
The WinCapita club was a Finnish Internet-based Ponzi scheme, which advertized itself as a private investment club engaged in currency trading. It operated mainly in Finland, with a smaller number of members in Sweden during 2005 and 2008.
The operation collected about 100 million euros (126 million U.S. dollars) from over 10,000 investors and was considered the largest ever swindle in Finland.
The National Bureau of Investigation of Finland (NBI) began to investigate the case in March 2008. The chief suspect Hannu Kailajärvi was sentenced to 5 years' imprisonment by the Court of Appeal of Helsinki in February 2013.
The Supreme Court ruled on Friday that all the illegal money gained from criminal activities by five criminal offenders must be confiscated, reported Finnish media.
In addition, the court upheld a verdict handed down by the Vantaa District Court in August this year, which adjudged that those defendants, who were found no criminal intent and exempted from fraud charges, must also hand in their illegal proceeds.
The Supreme court said that hundreds of similar cases are being prosecuted, and Friday's decision on WinCapita will be applied to the ongoing cases.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today finland to confiscate illegal profits from its biggest financial fraud Arab Today, arab today finland to confiscate illegal profits from its biggest financial fraud

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today finland to confiscate illegal profits from its biggest financial fraud Arab Today, arab today finland to confiscate illegal profits from its biggest financial fraud

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday